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U.S. Weekly Jobless Claims Fall to 3-Month Low

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(Kitco News) - Initial weekly U.S. jobless claims fell by 10,000 to a seasonally adjusted 206,000 in the week to Saturday, the Labor Department reported Thursday.

The data was relatively better than expected, with the numbers at their lowest level in three months. Consensus expectations compiled by various news organizations had called for initial claims to be around 220,000. The government did not revise the previous week’s numbers of 216,000 claims.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market as it smoothens out week-to-week volatility – fell by 5,750 claims to 213,000.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 13,000 to a seasonally adjusted 1,676,000 during the week ending July 13, the government said.

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